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Bon voyage: smart tips for the safest travel

For many of our clients, traveling is a well-deserved reward for their hard work. They find great pleasure while getting lost in an exciting destination’s local culture, indulging in delicious cuisine at the world’s best restaurants, exploring ancient ruins, and experiencing the beauty of nature while taking in majestic mountains. Certainly, that is what we hope each journey will be for our clients. Because we are in the risk management business, we know that expected delights can suddenly turn otherwise. Among the travel-related issues we have witnessed: Stolen valuables and travel documents, unexpected illnesses, detainments in foreign nations, natural disasters, even threats of kidnapping or actually being held for ransom. And so, as the travel boom continues and our clients re-engage their wanderlust, we felt it was a good time to offer some best practices for safe and stress-free vacationing. Steps to take before you leave There is a lot you and your team of travel advisors or assistants can do, before you embark, to help ensure smooth sailing. As you dream about your upcoming vacation, we suggest taking care of the following items: Be informed about the destination: Your concierge or travel advisor should provide general and safety information about the region. (The State Department’s travel.state.gov website is a portal to advisories related to specific countries.) Separately, if you are headed off the beaten path, such as on safari, make sure your advisors provide a network of contacts that can assist in the event of an emergency. Confirm your travel insurance coverage: Most luxury credit card companies offer a concierge level of travel services including travel insurance. A quick phone call should help understand exactly what will and will not be covered, as there are often many exceptions. Consider medical evacuation and similar coverages that provide extraction services, medical assistance and more. Again, you will want to understand costs and caveats before signing on. Determine whether you need Kidnapping & Ransom coverage: These policies include negotiation assistance and cover the cost of ransom, among a host of relevant services. Typically, we recommend them to high-profile individuals who will be traveling somewhere with security concerns, but please contact your insurance professional if you want to learn more. Confirm coverage for valuables you plan to take: Whether you will be traveling with jewelry, art, or other high-cost items, you should make sure your policies’ coverage extends worldwide. Your insurance professional will have this information if you need clarification. Backup your important documents: Storing copies of your ID, credit card numbers and important phone numbers on the cloud means you will always have easier access to this information, which, in turn, will make it easier to get replacement documents should you need them. If you use a password manager, it is especially critical to be sure your password is not used elsewhere and is challenging for hackers to replicate, as it protects every other password. Prepare your home: Ask the security company to perform a systems check. Additionally, make sure your backup generator has sufficient gas. And make sure a caretaker or friend has keys (or install a keyless entry) in case trouble arises in your absence. Share your itinerary: Let people at home know when you are traveling and where you are staying so they can alert authorities should something go awry. Steps to take on your trip Your bags are packed, and you are ready to go. Whether you are jetting off via private charter, commercial airlines or embarking on the wide-open seas on a yacht, these strategies will help keep you and your possessions safe so you can simply relax and enjoy the scenery: Be extra mindful with your valuables: Place geotags on important items you plan to check on commercial planes, to track them should they get lost. Only use the safe in your hotel room for low value items. Instead, use the hotel’s vault for all valuables. Be aware of your network when traveling: It is important to have a list of contacts where you will be traveling in the event of an emergency. Having a local advocate can be quite helpful. Be intentional, especially while you are abroad: Because not every locale follows the same due process as the United States does, it is important to research and know the customs of that particular region while vacationing. It is also worth locating the American Embassy in countries you travel in, just in case, and asking your lawyer for the names of colleagues they may have abroad who would be able to help you in worst-case scenarios. Follow local protocols and laws: Most importantly, be aware of any such local ordinances prior to your travel. Some countries, have tight restrictions or outright prohibitions regarding alcohol. For example, chewing gum is illegal in Singapore and in many Muslim countries, women are expected to dress conservatively and wear headscarves in certain areas. Wait to post on social media until you are back home: While it is tempting to share your good time with friends and acquaintances, remember that doing so also alerts potential burglars that you are not home. Moreover, if you post while on vacation you can also reveal where you and your family are traveling, thus putting yourselves at risk. With a little preparation, travel can be joyful and stress-free. Having the proper insurance portfolio to protect yourself against all exposures ensures a delightful adventure awaits you! Following these best practices is the surest way to spend a truly relaxing vacation. ...

Smooth sailing ahead: what you need to know about yacht insurance

Island hopping through the Caribbean or cruising the Mediterranean, yacht ownership should be a sun-filled dream come true. But, as every seafarer knows, storms and structural mishaps can quickly turn the dream into a nightmare. Contributing to that nightmare, yacht insurance policies are notoriously demanding and their terms are extraordinarily complicated. To help you navigate these complicated insurance waters, here are our insights to help ensure that you are never left high and dry. Current ConditionsSecuring yacht insurance has been a challenging task in recent years due to various factors including increasing natural disasters, regulatory changes, and economic shifts. The overwhelming payouts have forced several carriers out of the industry, and those that remained not only increased rates significantly but became extremely picky about who and what they would insure. In fact, today, many carriers would prefer to not cover first-time yacht owners at all. So, the first thing we tell people who ask about insuring a yacht is that the process will be an intricate one. Needless to say, it’s more important than ever to find an insurance professional who has the knowledge to put together a successful package, and the strong industry ties to get it done. The Right Approach For Securing Yacht InsuranceUnlike some other more pro forma coverages, this one is neither quick-binding nor set-it-and-forget-it. It will take some work to get adequate coverage, then require more communication with your broker to adhere to the carrier's demands. These suggestions will make it easier to do both: Lean into the process: To obtain insurance, your broker has to paint your circumstances in the best possible light, and that is going to require know-how (theirs) and time (yours). Our watercraft team has the advantage of having worked for carriers, so they understand exactly what underwriters need to see, but they can’t create that packet of information without your help. Be prepared to answer questions: Underwriters want to know everything, from primary mooring spot (although the bigger the yacht, the less it matters) to cruising itineraries to hurricane contingencies to who is your captain and crew. If you are buying a pre-owned yacht, you also need an accredited appraisal of its condition and value. Keep your insurance professional on speed-dial: Making sure you are properly protected means thinking beyond the vessel itself. Specifically, your insurance professional should review all contracts for marinas, shipyards and the like; few of those entities provide the blanket coverage you would expect them to, instead offloading as much liability as possible onto vessel owners. And to make sure your insurance remains valid, you will need to keep your insurance professional apprised of all operational changes, especially in personnel. Many carriers reject captains who they deem too inexperienced. It’s also important to let the insurer know, via your broker, whenever there are navigational changes. Four Concerns That Could Put You In Deep WaterYacht ownership comes with its own set of potential problems which is why proper coverage is essential. Here are some of the potential worries: Gusts and gales: When the winds blow, vessels get tossed about even when they are tied up at a marina. Big storms can rip pilings out of the ground, and that is bad whether it is your boat’s moorings or not, because once one boat is let loose, it can ping pong destructively through neighboring vessels. During those 2017 catastrophic storms, thousands of boats sank, but many others ended up on dry land, up to 1,000 feet from the water. Lightning: This is becoming more of an issue as vessels become more sophisticated. A strike can wipe out an entire electrical system, and these days that system can cost a million dollars or more. As a result, carriers have increased lightning deductibles. Fire: A bad shore power connection, an engine issue, shipyard carelessness ... any of these hazards can lead to costly damage, particularly because many boats are highly flammable. Groundings: Professional captains significantly cut down on the incidence of groundings and collisions. Nonetheless, the possibility remains, especially in crowded sea lanes such as those off the coast of Florida and in the Caribbean. A Tight Ship: What Needs To Be CoveredAppropriate coverage protects you when there is loss of property, liability claims and environmental damage. The essentials include: Hull and machinery: Think of it as property coverage for your boat, protecting not only the vessel and its infrastructure, but also some personal property, tenders and recreational watercraft, even the mopeds you use to zip around towns after you dock. However, though helicopter pads on your yacht can be included, the helicopters will require additional coverage. Protection and indemnity (P&I): This provides coverage for your liability for anything, fixed or floating, that your yacht hits. It also encompasses bodily injury to passengers or the crew, property damage and a mariner’s version of workers comp. You also want your P&I policy to reflect your intended navigation area. If you are going to be cruising internationally, your policy must be able to respond every port around the world (note: this is why a great majority of yachts are covered under one of 13 P&I clubs). Wreck removal: Should your boat sink, the local jurisdiction may mandate that you remove it. That is quite an expensive proposition. Vessel pollution liability: This is another requirement in many jurisdictions— the United States made it mandatory after the Exxon Valdez oil spill. Frequently rolled into P&I, it also covers fines and penalties incurred for causing damage to natural habitats such as reefs. Yachting is almost by definition an interstate activity, so maritime insurance is less regulated than most other coverages. One benefit of this lesser oversight is that much of it can be tailored specifically to your— and your vessels—needs. We understand the tremendous pleasure that you expect to receive from yacht ownership, so we look forward to using our all-hands-on-deck approach to make sure nothing ever rocks your boat. ...

Steering clear of uninsured and underinsured motorists

It was a beautiful day and our client was enjoying an afternoon drive, windows down, elbow resting on the door. But in a moment delight turned to horror; her car was broadsided by another vehicle and rolled. She was successfully extracted from the wreckage, but the incident was not without major consequence. She had lost the use of her arm forever. Making matters worse, the motorist responsible for the crash was underinsured, leaving our client responsible for most of her costly and continuing medical expenses, lost wages, as well as the help she needed to care for her children as she healed. Unfortunately, this is an all-too-common occurrence. In 2019, one in eight drivers was uninsured, according to the Insurance Research Council—and that is before the pandemic wreaked its financial havoc. Recently, our claims advocates have noticed that more motorists than ever are significantly underinsured, with liability policies sufficient to cover only the smallest damages. At the same time, our roads have become more dangerous with 2020 being the worst year for U.S. traffic deaths in more than a decade. All of which explains why we are educating our clients about the importance of Uninsured and Underinsured Motorist (UM/UIM) coverage. This auto policy coverage component is as undervalued as it is vitally important to your financial peace of mind. How motorists end up with too-little insurance—or none at all—and why that could matter to youFirst, a little refresher: Typical automobile policies have many elements, to cover everything from vehicle damage (yours and others involved in an accident) to medical bills (yours and your passengers) to liability (the cost of harm, if you are at fault). The first two types of coverage are optional, but liability is mandatory in every state except New Hampshire. The amounts mandated, though, are often quite low; in any event, many motorists cancel those policies or cut them back even further once they have obtained their registration. There are two factors to blame for that: Tight wallets: Yes, the economy has rebounded well since the early days of the pandemic. Still, many bank accounts have not fully recovered from the virus’s significant financial hit. And when people need to save money, insurance is often one of the first cuts. Name-your-price insurance: Many drivers purchase policies online, without any expert guidance. With some carriers allowing people to decide what they want to pay, that can too often result in a purchase of the least-possible coverage. If an uninsured or underinsured driver causes an accident in which you are harmed, your automobile policy will not necessarily cover the totality of the costs, or even the majority of them. You can sue to recover your losses through the responsible party’s assets, but what if they have none? Any state mandated Uninsured and Underinsured Motorists coverage is not at all unlikely to make you whole either. A very worthwhile fixWe encourage our clients to layer protections onto their auto insurance programs in order to maintain the highest levels of medical care and lifestyle security should a tragedy occur. We believe that though no one can predict accidents, everyone can effectively anticipate them. Consider another one of our clients who was standing on a sidewalk outside a car wash when she was hit by a car in a chain-reaction crash on the street. She spent the next four months in the hospital with a traumatic brain injury and continues to work with a neurologist and a therapist to recover. The two at-fault vehicles had liability coverage of $50,000 and $300,000, respectively—nowhere near enough to cover her ongoing expenses. But because she had added UM/UIM coverage to her auto and umbrella policies, she could rely on an extra $1.5 million to foot her bills. Here is the kind of policy inclusions we recommend to each of our clients: UM/UIM coverage: To provide financial assistance when you are in an accident with an at-fault driver who carries no liability insurance or whose liability limits are too low to cover the resulting damage or medical expenses. Excess UM/UIM coverage: To provide additional financial assistance to you or a family member beyond the maximum of your primary UM/UIM coverage. (Regular UIM coverage takes care of the amount beyond the at-fault driver’s policy limits, up to the UIM policy’s limits.) Simply put, acquiring these coverages means you never have to worry about another driver’s insurance choices. If the responsible party doesn’t have high enough limits to cover the necessary costs, your coverage will respond in place of that party, and your family and your assets will be properly protected. If you are unsure of whether you have the appropriate UM and UIM policies, please contact us for a quick review. ...

Don’t invite risk to your next party

Time to celebrate, and we hope it’ll be a wedding, graduation party, fundraiser or summer soiree to remember—but only in the good ways. Which is why we feel duty-bound to pause your preparations and talk about minimizing risks for (just) a few minutes. Maybe it’s the particular lenses through which we view the world, but we’ve seen too many festivities ruined by the late arrival of tort lawyers. To make sure that doesn’t happen at (or as a result of) your next celebration, we’ve compiled a list of what can (and often enough does) go wrong at celebrations - along with ways to mitigate the likelihood of that happening. You’ll also learn how to protect yourself in the event something does happen, or at the very least, how to prove that you tried your best to prevent any mishaps from occurring. How to avoid the problem of… ...someone getting injured: Use locks, guards (or both) to ensure guests and staff can’t go anywhere off limits. Pools are one of the highest risks at a celebration. Best to seal it off if no one is supposed to swim. For a pool party, we recommend hiring a lifeguard, ban diving, and clearly mark the deep and shallow ends. And we are not just talking the warning signs painted on the pool – place additional signage around the pool area for extra precaution. Trampolines are also danger zones, so unless you like to roll the die, keep guests’ feet on the ground. ...someone damaging or stealing items: If you have rare art or other valuables in the home, make sure to think through the likely flow of people to ensure nobody gets jostled into the Picasso or climbs on the Calder. Alert staff to anything needing special protection and, if you are still worried, hire someone to make sure that people keep a respectful distance for the Diebenkorn. ...damage to a rental space: While it’s a fabulous idea to have your anniversary party in the Metropolitan Museum of Art, hired staff should understand the venue’s rules. For example, no hanging the “Congratulations on 50 years” banner on the Temple of Dendur. (You laugh but....) ...a guest drinking and driving: The law increasingly holds whoever serves liquor is responsible for injuries caused by intoxicated guests, so give the bartender(s) clear cutoff instructions. It’s also a good idea to have someone watch guests as they leave so they can flag a cab for those that clearly need one. Alcohol and teenagers are a particular concern—know that whether or not you gave the okay for a keg party, you might be ultimately liable if the drinking happens in your child’s home. ...someone harassing or harming a high-profile guest: When the gossip columns are abuzz about the guest of honor at your upcoming book party or fundraiser, prepare for some unwanted attention. Have security in place to deal with paparazzi, gate crashers, or worse. And how to protect yourself in the event a problem happens... ...don’t assume you are covered through your homeowners or umbrella liability policy: Purely personal events in your home are usually covered, but it gets trickier if the event is, at all, business-related. It’s one thing to invite a few clients to your holiday party, and another to host a partners meeting. Even a fundraiser for a nonprofit organization could be iffy. Therefore, it is best to speak with your broker before the invitations go out so we can advise you on the best ways to mitigate your risk and ensure you are properly covered. ...put insurance in writing when hiring vendors: Have every contract, from renting a hall to signing on a caterer, explicitly state which party is responsible for liabilities and which policies must be in place. The expense can be significant, so negotiate insurance when you discuss other terms. A cheap catering hall with an expensive insurance bill is no bargain. Contracts should also specify that any subcontractor must have appropriate coverage. ...talk to your broker about whether you need special event policies: This coverage is typically combined with cancellation insurance. Note that these policies are precise in what they do and don’t cover. You might be able to make a claim if the bride gets pneumonia, for example, but not if it’s a case of cold feet. To sum it up, you should add checking your insurance coverage to your party planning list. Ideally you should call your broker before you sign a contract to rent a space or hire a caterer. That way you can get the details right, banish the dark thoughts of potential disasters, and go back to planning a celebration that will delight your guests and honor the occasion. ...

Think before you post: a social media risk guide

In the 20 years since the beginning of its now-ubiquitous popularity, social media has transformed both society at large and our personal lives. From Facebook to Twitter, Instagram to TikTok, the various platforms—today used by 72% of Americans, according to the Pew Research Center—now regularly impact politics, commerce, work and relationships. They have inevitably caused a concerning increase in the daily risks assumed by every user. Though risk is rarely considered on a post-by-post basis, as insurance professionals, we are well aware of the negative outcomes. There was, for example, the client whose diamonds were stolen after she posted about them and included her whereabouts. And the client who was sued after uploading false, negative reviews about a retailer whose service failed to meet his expectations. Unfortunately, the list goes on and on. Of course, we don’t expect you or your family members to abstain from social media, but we do want you to know what can go wrong. These are the biggest issues and what we suggest you do to avoid each. Scams and fraudHow it manifests: A recent report by the Federal Trade Commission found that criminals are targeting people on social media at an alarming rate. Individuals reported around $770 million in losses from social-media-centric rackets, such as investment frauds and shopping scams, in 2021 alone. These days, many involve fake cryptocurrency payments, with nefarious individuals posing on Twitter, Instagram or Facebook as successful billionaires like Bill Gates and Elon Musk, or as friends or family members to offer “tips” or otherwise ask for financial contributions. We have even seen pretenders declare themselves to be representatives of some cryptocurrency exchange platforms. How to protect against it: No matter how great the opportunity appears, never give money or account information to anyone online. Before investing, we recommend you consult your wealth manager or financial advisor. Legitimate opportunities can always be vetted. Note that even if you maintain fraud insurance and/or cyber policies, it is important to act prudently as coverage may not apply for every situation. It is also important to speak with your insurance advisor, regardless of the coverage you have in place. In short, no one is shielded from bad decision making or improper vetting. Digital doors to your home and accounts How it manifests: You might think you are sharing something mundane, but expert eyes can put it to use for their own unsavory purposes. For instance, whenever you, your children or even your household staff post photos of your home and its surroundings, it can potentially provide outsiders with information about entry points or the art hanging on your walls or the times of the day you are usually home—or more notably, not there. Similarly, if you post about things like your birthday, your pet’s name, or your favorite movie, you may be providing scammers with information that could help them decode your password, allowing them entry into accounts and other private online areas. How to protect against it: Use privacy settings to your advantage. The best option would be to keep all social media accounts private, so you are only sharing information with a curated group of trustworthy followers. Make sure your children and domestic employees do the same. Also, always elect to use 2-Step verification when offered by an app or website login. Liability, libel and slanderHow it manifests: While those in the public eye face a greater degree of risk, anyone who participates in a public forum is responsible for the words and views they put on display. This can affect you adversely in a few different ways: If you are an influencer who is commodifying aspects of your lifestyle, you may not be covered by your personal insurance should someone sue you for libel, slander or bodily injury since that could be considered a business pursuit and therefore a commercial exposure not covered by personal insurance. Similarly, if your teenager is an influencer, whatever they say or do can be connected to you as a parent. The age at which they are deemed independent adults varies by state, so parental responsibility may hold even for those living away from home in “hype houses”, with other content creators. The risk is comparable to that of children living in fraternities, where liability responsibilities ultimately land on the parents. If your child bullies someone online or pulls a harmful prank, you may be held liable for damages. If you publish negative comments that are not based on facts on Twitter, Yelp, Google, or any other platform, you could be held liable for slander and defamation. This is especially true if you attack the character of an individual or business or otherwise intentionally aim to injure their reputation. How to protect against it: Influencers and others who use social media commercially should create and operate under a commercial entity such as an LLC, thus creating distance between the enterprise and personal assets. They should secure commercial liability insurance too. Regardless of whether your children are influencers or not, speak to them about the serious risks of social media and how to post safely. Of course, you also need to be careful about the content and tone of your own published comments. Only write posts that are fact-based and defendable. Remember that whatever you say in the public sphere can be used against you, legally and otherwise. To that end, we encourage you to be mindful about what you are sharing and especially with whom. We also always recommend that clients incorporate cyber insurance and excess liability policies in their risk-management portfolio, as they offer additional layers of protection, especially if you regularly use social media. If you have any concerns about risk related to social media usage, we are, as always, here to discuss and advise. ...

The impact of natural disasters on the insurance industry

With predictions of another season of significant weather events in the air, it’s important for us to give you an update on the current insurance landscape. The insurance industry is constantly evolving due to many factors and our goal is to keep you fully informed so you can better understand what is happening, why, and what you can do to mitigate the impact on your insurance program. The insurance industry is in the midst of a correction that largely began in California a few years ago and continues to spread across the country, particularly to regions most susceptible to wildfires, hurricanes, and other catastrophic climate events. Despite this, Americans continue to move into these areas, and that has put a serious strain on insurance carriers, which, in turn, is increasingly impacting even less-vulnerable areas. In the past five years, the U.S. has experienced 89 weather-related events that caused at least $1 billion in damage, and that trend is not abating. In 2022 there were 18 separate billion-dollar events making it the third most costly year on record for hurricanes, freezes, severe storms, wildfires, and floods. Floods, in fact, are the country’s most frequent and costliest natural disaster, now occurring often in areas not previously considered to be high-hazard ones. All of which means premiums continue to climb higher, non-renewals are more common than ever, and it is increasingly difficult to obtain coverage, wherever you live across the country. This is no doubt, frustrating news to clients but does have a silver lining: Several years of navigating this market has made our team extremely well equipped to guide you through its challenges and find creative solutions best fit for your unique needs. Three factors driving the market correction Insurance carriers engage in a constant struggle to sustain an economic model that allows them to pay the broadest number of claims. This moment in time remains a particularly tricky one for them because … 1. Capacity is low. Today’s carriers are significantly overexposed after decades of securing increasingly expensive homes in areas that have borne catastrophic losses from weather events. Even premiums that may seem unreasonably high to individual policyholders do not sufficiently cover carriers’ aggregate risk. Not only has this overexposure made carriers tighter with rates, but it has also made them more likely to refuse coverage altogether. This is the case in affected and unaffected areas alike, especially for owners of older homes that are not fitted with the latest protections or do not meet current building codes. A similar reluctance is occurring in areas like New York City, where aging infrastructure makes carriers wary. 2. Reinsurance costs are high. If carriers were left to pay off losses solely with the money they took in from premiums, insurance would be unsustainably expensive. That’s why they support their own exposure with reinsurance, essentially, coverage for losses they can’t cover on their own. Reinsurance guarantees carriers have enough cash no matter the cost of a loss. That said, the current combination of increased catastrophic events and heavier concentrations of multi-million-dollar homes in vulnerable areas impacts both insurance and reinsurance carriers. In fact, so drastically, reinsurance is now much costlier than before. When those rates rise, it makes it that much more complicated and expensive for carriers to provide adequate coverage for clients. There comes a tipping point when reinsurance becomes just too costly, especially government-regulated ones that are required to carry a certain surplus. 3. Inflation is making everything worse. The cost of replacing almost everything is significantly higher these days. Labor and materials are at sky-high prices because of ongoing supply-chain issues and skilled-worker shortages. Vehicle repair costs, to take one example, have risen steadily, and faster, in the past two years. The latest premium appliances may be more technologically advanced, but that also makes them more expensive. Much more basic materials such as paint, lumber, roofing and plumbing are pricier, too. And these costs continue to climb higher after a catastrophic event which puts pressure on available resources. Smart risk management strategies We continue to provide innovative solutions to help protect you and your belongings. But we also want to put you in the best possible position to ride out these challenging times. Specifically, we recommend that you… Do everything in your power to avoid a loss. Yes, accidents and climate events will unfortunately happen, but you can better prepare your home and property for both. Simple pre-emptive steps such as creating a brush-clearance zone in a wildfire-prone area or undergoing a windstorm mitigation inspection in storm-heavy areas are crucial. We can also help you schedule walk-throughs with professionals, who will spot potential trouble areas and recommend preventative measures. Likewise, we encourage you to embrace the available technology to minimize the likelihood of water loss or wind damage such as water leak detection devices and more. Protect your insurance coverage. A history of previous claims, even a short one, is often a strong predictor of premium hikes and non-renewals. It can also make it more difficult to secure new coverage. Thus, we encourage you to speak with your insurance professional prior to making any potential claim, so we can help you decide how best to proceed. (In some cases, that means taking on the expense yourself if possible.) Choose coverage strategically. If, as we suggest, you plan to file claims only in the most onerous scenarios, you can lower premiums by choosing higher deductibles. Other situations may call for you to self-insure or partially insure. For example, if your home has the best-possible wind protection and you do not carry a mortgage, foregoing wind coverage to make the premiums more reasonable might be a viable option. Contact us before signing a contract on a home: If you are considering buying in a risky geographic area, your broker can tell you if you will be able to purchase coverage—and whether the cost will be prohibitive. We understand that this is an extremely challenging market, but we are confident that we can help guide you to make it more manageable. If you have any questions about the current state of the market or whether your personal portfolio is adequately protected, please know we are always here to help guide you and your family.   ...